Online Access Free C8 Practice Test

What is a "profit model?"

• A.The financial objectives of the organization
• B.A descriptor for how the company works
• C.The plan for how the organization generates revenue and makes money
• D.The intention or purpose of the business

In what stage of the business lifecycle do companies typically begin standardizing procedures through policy creation?

• A.Decline
• B.Mature
• C.Growth
• D.Start-up

What best describes an effective approach for balancing multiple priorities and perspectives regarding compensation?

• A.Representing your view with data and relating it to business results
• B.Finding a compromise that may not appease all stakeholders but does not give any one group or person everything they are seeking
• C.Giving priority to perspectives based on the job or influence level of the stakeholders
• D.Being firm and uncompromising in your decision-making

What best describes a use of strategic analysis?

• A.Understanding your business and its competitive strengths and weaknesses
• B.Evaluating prior year performance for the narrative portion of annual financial reports
• C.Forecasting profit, growth and investment performance to develop realistic budgets
• D.Pricing your products appropriately

What best describes a key competency of compensation professionals regarding HR management of the organization's employees?

• A.Ensuring they are appropriately selected, developed, appraised and rewarded
• B.Monitoring individual employee career paths and succession planning
• C.Communicating regularly with line management on performance management
• D.Ensuring that all regulatory and voluntary payroll deductions are properly administered